Industry Link Media Blog

A former advisor to President Nelson Mandela, a key author of twenty one books and a previous Principal Economist at the EBRD (European Bank for Reconstruction and Development) has been announced as the Diggers and Dealers key note speaker for 2020. Professor Ian Goldin.

Professor Goldin specialises in economics and has numerous credentials on the world economic stage. After a start in Africa, Professor Goldin lectures at Oxford, Harvard and Tsinghua Universities as well as providing advisory and consultancy services to thirty leading companies.

His recent speaking engagements include the opening keynote at Google Zeitgeist, the Microsoft CEO Forum and TED. For the past twenty one years he has provided keynotes at the World Economic Forum meetings in Davos.

Adding to an impressive list of achievements, Professor Goldin also was a previous Vice President of the World Bank

 

His key note at Diggers and Dealers in 2020 is sure to be thought provoking and insightful.

 

Gold is on a run. But the ASX has plunged. The ASX dropped around 2.25% points on Monday trade. The ASX S&P 200 closed at6978.3. While the energy and travel sectors were hit, gold grew. Spot prices for gold sit at 1686.80 us/oz at 17:35 WST ($2556.60/oz)

Saracen Minerals rose 7.4%, Newcrest Mining 5% and Resolute Mining 5.5%. According to Commsec, 93% of stocks on the ASX 200 fell today, while 8 of the 14 that improved were gold miners due to the safe haven buying.

Wall Street is expecting trade to be negative when it opens for Monday Feb 24 trade.

Local shares were at record highs last week and showed improvement for the last three consecutive weeks

Newmont is set to invest around $150 Million in a new fleet of CAT 793F autonomous trucks for its Boddington Operation in Western Australia. As well as a new fleet, a number of exisiting trucks will be converted to an autonomous haulage system. This is set to be the first use of the technology in a gold application and paves the way for the extension to mine life and improved efficiencies. Newmont Board of Directors unanimously approved the investment which is set to be in operation in 2021.

“Not only does Boddington continue to deliver strong performance, our investment in autonomous haul trucks will generate an internal rate of return greater than 35 percent with a more controlled and efficient haulage operation,” said Tom Palmer, President and Chief Executive Officer.

According to WesTrac CEO Jarvas Croome, WesTrac are looking forward to the ability to be part of this initiative. “We are excited to be part of the Boddington project and to partner with Caterpillar to deliver ground breaking equipment solutions to support Newmont in this first installation for the gold industry,” he said.

WesTrac who are partnering with Newmont, recently announced building a world leading autonomous training facility in Collie, Western Australia. The Collie Autonomous Training Facility will support customers across Western Australia as well as up skilling existing employees in the new technology.

Boddington mine produced 167,000oz in the September quarter and was the second highest gold producer after the Cadia mine in New South Wales.

Minister for Mines and Petroleum Hon Bill Johnston, has opened Round 21 of the Exploration Incentive Scheme in Fremantle. The scheme provides $5 million a year to encourage innovative drilling in greenfields and under-explored areas of the State.

Explorers can receive a refund of up to 50 per cent for innovative drilling projects, with caps of $150,000 (multi-hole project), $200,000 (single deep hole), and $30,000 for prospectors. There were 41 successful applicants for the last Round of the EIS and over $4.93 Million for drilling projects in 2020. Most of the projects were located in the Eastern Goldfields for nickel and gold projects.

“Last year, there was a significant shift in the focus of explorers in Round 20, with about a third of applicants searching for battery commodities such as nickel, cobalt, vanadium and lithium. The EIS helps keep Western Australia as the leading jurisdiction for mining and exploration, with many discoveries resulting in new mines and creating new jobs for Western Australians.” the Minister said.

Applications are open until March 27, 2020. Further details are located at www.dmirs.wa.gov.au

 

 

GBF Group, which has recently been acquired by Macmahon Holdings Limited (ASX:MAH), has received a conditional letter of intent from Silver Lake Resources (ASX:SLR) to continue work at its Mount Monger Gold operation. The deal is worth around $200 million.

Macmahon has been operating at Mount Monger since 2014 and also provides mining services to the Daisy Milano Complex, Cock-eyed Bob and Maxwells operations. GBF’s tenure will be extended until March 2023 as part of the intended deal.

Chief Executive Officer and Managing Director of Macmahon Michael Finnegan was pleased to receive the letter from Silver Lake “The new work is an important milestone in our strategy to further expand in the underground market, and demonstrates the value in our GBF acquisition” he said.

The Silver Lake Macmahon relationship will further be entrenched with the new Santa mine starting development in March 2020. The negotiation and finalisation of the deal is expected to be completed in March.

 

In the glow of a new joint partnership between Saracen Minerals and Northern Star Resources, KCGM has announced a new General Manager.

Kous Kirsten started in the role from Monday February 17 and has replaced Ben Wessely. The decision of Mr Kirsten was made by the KCGM JV Executive Committee which members are from both Saracen and Northern Star.

“This is an exciting time for KCGM and Kalgoorlie Boulder. KCGM is 100% WA owned for the first time in 30 years. We are wholly-focused on continued safe production, realising future growth opportunities and creating shared value with the local community, and our Joint Venture owners” Mr Kirsten said.

Mr Kirsten has experience in open pit and underground mining and processing in Australia and Africa and thanked former GM Ben Wessely for his guidance and transitional support.

The remnants of ex Tropical Cyclone Damien is being experienced across the Goldfields and Salt Lakes Districts.

Main Roads has issued a warning to motorists to exercise caution travelling the Goldfields Highway north of Kalgoorlie. The road is open, but floodways may have water across them. DFES has issued a warning to prepare for flooding for people in the Salt Lakes Districts.

Goldfields Hwy CAUTION between Wiluna and Kalgoorlie due to flooding https://t.co/BFeSPm6hYk #waroads

— Main Roads WA (@WA_Roads) February 11, 2020

Rainfall figures to 9am February 11 show:

Yuono Downs – 45.8mm

Credo Station – 18mm

Coolgardie 17mm

Leinster 15.4mm

While Kalgoorlie Boulder received its highest 24 hour reading since June 8 2019 with 15.2mm.

 

For further info on the areas affected:

Emergency.wa.gov.au

Main Roads Travel Map or call 138 138

Bureau of Meteorology 

 

The recent bushfire crisis affecting our nation has been the catalyst for two brands in the Goldfields to take things to the 22 yards of pitch at Morrison Oval.

Epiroc Kalgoorlie Team are set to take on WesTrac Cat all for a great cause – Sunday February 16. A Charity T 20 Cricket match is a way for the Goldfields mining industry to help out those affected by recent dreadful bushfires that tore through our country.

There will be plenty happening on the day including a raffles, auction, jumping castle for the kids and the chance to prove your hitting ability in the biggest 6 competition. After the game, teams and supporters will head back to the Piccadilly Hotel for presentations and an unwind session. There will also be a major auction where a signed Darcy Short Australian Cricket shirt and Australian Signed Cricket Bat are up for grabs.

WesTrac Cat are matching what is raised dollar for dollar, while Epiroc have donated polo shirts and stubby coolers for the day. Both companies will also donate for every six hit, no ball bowled and batsman out for a duck during the event. There will be a spectator fee of a nominal donation or for $5 spectators can obtain a wristband to attend after match presentation.

Other great sponsors so far include Terra Drilling who have donated BBQ Meat and Water, Icon Sportswear who have donated playing shirts for the day, CocaCola Amatil  and Great Boulder Cricket Club who are loaning their bowling machine for a biggest six competition during the innings break.

Raffle Prizes include

• 2X 2 Day VIP pass to the V8 Supercars
• Milwaukee M18 four piece kit
• Milwaukee M18 four piece kit
• Pressure Washer
• Seat covers for any 4WD to the value of $500
• $200 Eftpos Voucher